Patriot Select is the latest in a string of new insurance providers helping to take the load off of Citizens. (Credit: Vitalii Vodolazskyi/Adobe Stock)
Another Florida insurance company has been approved to take over thousands of residential property policies from the state’s insurer of last resort. Patriot Select Property and Casualty Insurance Company announced last week that it has received regulatory permission to assume up to 30,000 policies from Citizens Property Insurance in the fourth quarter of 2025.
The insurer first received approval to begin operations in the state from Florida’s Office of Insurance Regulation in April 2025. According to Patriot Select, the company is led by fourth-generation Floridian John W. Rollins, who has more than 30 years of experience in the state’s insurance marketplace.
“Thanks to its forward-looking Legislature and regulatory bodies, Florida’s property insurance market is stabilizing, yet there is still a clear need for additional capacity and competition,” Rollins said in an April release. “Patriot Select is focused on meeting this need by providing homeowners with reliable insurance options, grounded in sound financial management and a commitment to customer service.”
Patriot Select is the latest in a string of new insurance providers helping to take the load off of Citizens.
In June, Citizens Property Insurance Company CEO Tim Cerio told the insurer’s Board of Governors that he believes Florida’s long-struggling insurance market is well into its recovery. Historically, a decrease in policies held by the insurer of last resort is an indication that market conditions in Florida are improving.
Citizens’ property insurance policy count peaked in October 2023 at 1.41 million, but that number fell to 777,592 policies in force as of June 2025. This demonstrates a decrease of 44.9% from the peak and a 36% drop in policies since June 2024.
Cerio told the Citizens board that the company expects to see its policy count fall to under 654,000 by the end of 2025. While he anticipates an uptick in Citizens Insurance policies during hurricane season, Cerio said he expects policy numbers will continue to drop in the fall.
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